Blink Charging (NASDAQ:BLNK) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Blink Charging (NASDAQ:BLNK) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Blink Charging in a research report on Friday, January 9th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $1.95.

Blink Charging Price Performance

NASDAQ BLNK opened at $0.58 on Friday. The firm has a market cap of $82.71 million, a P/E ratio of -0.47 and a beta of 1.83. The company’s 50 day moving average is $0.66 and its 200-day moving average is $1.10. Blink Charging has a 12-month low of $0.45 and a 12-month high of $2.65.

Hedge Funds Weigh In On Blink Charging

A number of large investors have recently modified their holdings of BLNK. State Street Corp increased its holdings in Blink Charging by 1,256.4% during the 4th quarter. State Street Corp now owns 6,667,077 shares of the company’s stock worth $4,447,000 after acquiring an additional 6,175,566 shares during the period. Vanguard Group Inc. boosted its holdings in Blink Charging by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,708,659 shares of the company’s stock valued at $7,722,000 after purchasing an additional 282,515 shares during the period. Renaissance Technologies LLC boosted its holdings in Blink Charging by 227.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,553,484 shares of the company’s stock valued at $1,703,000 after purchasing an additional 1,773,109 shares during the period. UBS Group AG boosted its holdings in Blink Charging by 67.9% in the 3rd quarter. UBS Group AG now owns 2,364,562 shares of the company’s stock valued at $3,878,000 after purchasing an additional 956,556 shares during the period. Finally, Sabby Management LLC bought a new position in shares of Blink Charging in the fourth quarter worth $1,418,000. 44.64% of the stock is currently owned by institutional investors.

About Blink Charging

Blink Charging Co is a provider of electric vehicle (EV) charging solutions, offering a nationwide network of charging stations and related software services. The company designs, develops and markets Level 2 AC and DC fast charging equipment, as well as a cloud-based management platform that enables real-time monitoring, analytics and payment processing. Its integrated approach addresses the needs of commercial, residential and fleet customers looking to deploy EV infrastructure.

Blink’s product portfolio includes a suite of charging stations suitable for parking garages, retail locations, hospitality venues and multiunit dwellings.